DUBLIN--(BUSINESS WIRE)--The "Global Near-Eye Display Market by Technology (TFT LCD, OLEDoS, LCoS, MicroLED, AMOLED, DLP, Laser Beam Scanning), Device Type (AR, VR), Vertical (Consumer, Medical, Aerospace & Defense, Automotive) and Geography - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global near-eye display market is estimated to be USD 1.7 billion in 2022 and is projected to reach USD 5.3 billion by 2027, at a CAGR of 24.7% during the forecast period.
The market has a promising growth potential due to several factors, including the emergence of metaverse, surge in the use of OLEDoS microdisplays, and rising adoption of AR and VR devices.
Near-eye displays are becoming popular in emerging fields of virtual reality (VR), augmented reality (AR), and wearable computing. They have the power to create novel experiences that potentially revolutionize applications in aerospace &defense, medical, automotive, consumer, and several other sectors. Further, the small form factor, light weight, high portability, very low power consumption, and the ability to see-through are some key advantages of near-eye display solutions, boosting their demand.
OLEDoS: The fastest-growing segment of the near-eye display market, by technology
OLED technology-based near-eye displays are fabricated on a silicon surface called silicon-based OLED or OLEDoS. OLEDoS technology has a driving circuit based on semiconductor CMOS silicon rather than the TFT line. Hence, the technology has better specifications in terms of resolution and size than other technologies deployed in near-eye displays. Also, market players have started adopting organic growth strategies to strengthen their portfolio of OLEDoS technology-based near-eye display products. For example, SeeYA Technology started manufacturing OLEDoS displays for smart wearables in 2020. Therefore, the market for OLEDoS technology-based near-eye displays is likely to grow at the fastest rate during the forecast period.
Medical: The largest growing vertical of the near-eye display market
With the ongoing advancements in the healthcare sector, the medical industry is likely to be the fastest-growing market for near-eye displays during the forecast period. Technological advancements include VR diagnostics, VR surgery, and AR for visualization and training assistance. Further, ongoing developments in the AR and VR markets are expected to propel the growth of the near-eye display market.
North America: The largest region in the near-eye display market
North America led the near-eye display market in 2021. Investments in display technologies made by the major players in the US have led the market growth in this region. The increased adoption of new technologies, such as LCoS, OLEDoS, and AMOLED, in the near-eye display products by North American players such as Kopin Corporation; eMagin Corporation; Syndiant, Inc.; and several other leading companies is the key driving factor for the market growth in the region. Moreover, the growing use of smartphones, the rising consumption of smart electronic devices, and the surging demand for AR and VR technologies in healthcare applications also boost the near-eye display market growth in the region.
Market Dynamics
Drivers
- Increasing Use of OLEDoS Microdisplays in Newer Applications Such as Projection, Imaging, Smart Glasses
- Surging Adoption of AR Devices in Different Verticals
- Growing Popularity of Metaverse
Restraints
- Health Issues Associated with Excessive Use of AR and VR Devices
Opportunities
- Growing Focus of Market Players on Filing Patents and Spending More on R&D Activities
- Increasing Investments by Technology Giants in Development of Innovative Near-Eye Display Products
Challenges
- Developing Power-Efficient Near-Eye Displays with High Resolution and Brightness
- Minimizing Latency for AR and VR Displays
Companies Mentioned
- BOE Technology Group Co. Ltd.
- Compound Photonics
- eMagin Corporation
- EXALOS AG
- Himax Technologies, Inc.
- HOLOEYE Photonics AG
- Hupan Optoelectronics Technology (Jiangsu) Co. Ltd.
- Infineon Technologies AG
- JBD Xianyao Display Technology
- Kopin Corporation
- Maradin Ltd.
- MICROOLED Technologies
- MicroVision
- Mirrorcle Technologies Inc.
- Optecks, LLC
- OQmented GmbH
- Plessey
- Samsung Electronics Co. Ltd.
- SeeYA Technology Corporation
- Shanghai Top Display Optoelectronics Technology Co. Ltd.
- Shenzhen Anpo Intelligence Technology Co. Ltd.
- Shenzhen Microtech Technology Co. Ltd.
- Shenzhen Toppop Electronic Co. Ltd.
- Sony Group Corporation
- STMicroelectronics
- Syndiant, Inc.
- Texas Instruments Incorporated
- Tianma Microelectronics Co. Ltd.
- TriLite Technologies GmbH
- Truly International Holdings Ltd.
- Ultimems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jqm0n8
